₦airaland Forum

jcmaiah:
200 pips is 200 pips. If such short move is 2000pips,then brokers would be broke

If your profit is not anywhere close to 5000usd based on the lot I am seeing then it's not anywhere close to 2000pips

The question should be; what was his entry price? Then we can deduce the pips count up to the current price on the screenshot.

infofirst:
You are right. But the context in which I am looking at it is this, Price hit a major horizontal, channel and trendline support and there were confirmed rejection from candlestick on the weekly tf. One would have expect price to go to a major resistance right bit by bit. Along the way, price can decide to retest the previous major support and it might even run up to 1000 pips towards the support. Making one to doubt everything but with a good risk, money and position sizing, one will still be very fine.

I do not know if I am clear enough.

You hit the nail on the head. All the trades I took this week had multiple confirmation on my checklist.
...follow the trend on higher TF; check
....support,resistance, TL, fib level, pullback and all of that; check
...candlestick confirmation and chart pattern; check
....break and retest; check.

Guess what, I still took the L big time! But MM and risk management kept my head intact. I know my Technicals were spot on,pure price action,naked charts, I got dealt by fundamentals and was trapped in ranging markets. This week was range-ful. Look at UJ, UCH, CHjpy... Almost all of pairs. But we move. Next week will definitely be better.


See, as seemingly restrictive as a SL is, it's our last line of defense. The financial streets are slippery Mehn. Market Makers eat retailers for breakfast. Put on some protection y'all.

We move.

Mrbillionaire:
Can you interpret the orders? Which to buy, which to sell?

No-one really knows what order types those are. But it can be interpreted in a sense. The admin dropped a video on that sometime ago. Check files

WAVESANDGOLD:
if you mean something like the below. Join the telegram group

@Forex_Livestream

Yeah, I'm in the group already. Thanks.

infofirst:
Stress bro. Work on your charts the more. It can be complicated looking for institution orders.

Noted boss. Thanks.

Donvic4u:
Cftc,gov/MarketReports/CommitmentsofTraders/index.htm

Replace the comma with dot

Thanks boss

Karleb:
It opens directly to the news.

Unless that isn't what you want.

'Financial institutions orders', this isn't stock bro.

It's available for fx too

Karleb:
Download myfxbook mobile app.

I have it already. Where do I look?

Please who knows where I can get daily figures for financial institution orders? I want to factor it into my analysis.

djwalata:
Good set up BUT ve u considered d daily tf?
Moreover, USD is selling currently.

Nice one boss.

The timing was wrong.

Going Long.

Confirmation; Support and TL

Theyoungmaster:
I entered around 88710 last week. scalped just 70pips. plan was to re-enter on break and retest of neckline at 8913 today, but bloke has been distracted. I'll be waiting for a pullback to go long and ride to next Resistance or 903


Modified: UChf is doing just as anticipated. I entered last week at 88710 as mentioned and have scalped 131pips intraday thus far. There's still room for more upward movement. I'll be waiting for break and retest of immediate resistance at 903 and then ride till next resistance at 918. But if price gets rejected at 903, I'm open to shorting it.


Observe. Wait. Enter.
Rinse and Repeat.

Cc: Karleb

My charts in mt5 are blank. What could be the issue? How do I rectify it?

Karleb:
Lookin at this fella here, I think it's gonna sell from next week, probably till God knows when.

On a closer examination, the daily chart has an inverted head and shoulder pattern.

I think the inverted HNS has completed it's bullish run from neckline break.

boom99:
I didn't see it that way ooo. I don already enter. I will wait. I believe it will turn blue soon

Alright. Drop your chart next time.

boom99:
Selling USDCAD

Wait for price rejection at that resistance before looking for shorting opportunities. Trade what you see.

Donvic4u:
I hate breakout without retest

LMAO.


Same here bro. Someone will na be feeling left out and tempted.

highcurrent:
Saw a comment on FF, where someone was talking of value area on GU at 3566.

Now look at that spike, coming from that area coupled with news effect.

Imagine a buy limit there.

I anticipated a bounce around that region too. I just didn't know twill be this huge. I wasn't bold enough to place a buy limit there cos of BOE. I don't like trading before or after major news releases. Attached is my comment on a telegram group before the news cane out. Had I known.

Wahala for who no use stop losses trade cable today. Damn!

Karleb:
Bros, you can't use daily chart, gain 70 pips and call it scalping.

That's day trading.

Yeah, You're right.
But I'm not trading with daily chart persay. My account size can't carry it for now. I'm only getting my signals from daily chart. I execute on 4h OR 1h, then close out the trade at the end of the day and re-enter again the next day if the signal on daily chart is still intact.

Dunno if you understand.

Theyoungmaster:
I've eyes on this pair since last week. matter of fact I was long on it.would have held my position over the weekend if not for swap. check the daily tf, it has formed an inverted HNS pattern. I expect it to rise till 0.903. It could sell a bit anyways. But I wouldn't sell till daily tf support at 0.8913 is breached. Till then, my bias is to the upside. Will post my analysis later.

I entered around 88710 last week. scalped just 70pips. plan was to re-enter on break and retest of neckline at 8913 today, but bloke has been distracted. I'll be waiting for a pullback to go long and ride to next Resistance or 903


Modified: UChf is doing just as anticipated. I entered last week at 88710 as mentioned and have scalped 131pips intraday thus far. There's still room for more upward movement. I'll be waiting for break and retest of immediate resistance at 903 and then ride till next resistance at 918. But if price gets rejected at 903, I'm open to shorting it.


Observe. Wait. Enter.
Rinse and Repeat.

Theyoungmaster:
Shrink OR bounce...?
London-NY overlap will tell.

We wait....

Looks like its shrinking after all.... Thanks to strong bullish momentum in DXY. Anyways, To avoid stories that touch, I'll wait for break and retest of support @ 1.19287(drawn from weekly Tf) before shorting EU down to next major demand zone @ 1.170 region. That's a trade set up for tomorrow or next week.

So we wait.

iamehmakute:
Thanks boss, are you a scalper

Not really. But then everyone is a scalper one way or the other.
When I sense a possible reversal against me, I'd rather scalp few pips and get off asap than stay to "ride the trend".


I'm not "boss" sha.
Just an "older newbie".

When our bosses drop analysis and tips here, you'll know. I wouldn't name them. Just observe and learn. Goodluck.

iamehmakute:
Still trying to connect the dots in forex(beginner) , but here is my expectations and analysis on GU(GBP/USD). From the picture attached, we can see that it broke the ascending triangle and started forming lower highs and lower lows. I'm waiting for it to break the key resistance below the box and probably a retest with a candlestick confirmation before I enter for a short. Otherwise if it breaks the downward trends line I'll be looking for a long. But my eyes are on a short for now, since that's what the HT frame indicates. 1hr TF. I stand to put corrected tho

Nice observation. Been selling GU since yesterday. I've got out sha.

Shrink OR bounce...?
London-NY overlap will tell.

We wait....

Mrbillionaire:
May start selling here

I've eyes on this pair since last week. matter of fact I was long on it.would have held my position over the weekend if not for swap. check the daily tf, it has formed an inverted HNS pattern. I expect it to rise till 0.903. It could sell a bit anyways. But I wouldn't sell till daily tf support at 0.8913 is breached. Till then, my bias is to the upside. Will post my analysis later.

Cc: Infofirst

Boss, can I mail you about an issue?
Thanks.

I'm anticipating a very huge move to the upside from EUR/GBP and USD/CHF.

The Fomc meeting might just be the needed catalyst for the push.

Donvic4u:
U trade without confirmation too?
Or what's the basis of your sell?? Pls would love to see

I took a look at his trade call. For GU, I think the area he placed a sell is a value area. Confluence of Order block, monthly resistance, and trendline. Coupled with the fact that price was dumped around same area last Friday. It's a good call.

That's what I'm seeing from my own end.

Selling CHF/JPY

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